CardWeb's survey located about 100 cards from more than 70 issuers and found three offering rates below 10% (table, page 26). What's more, 6 of the top 10 low-rate cards charge no annual fee. That's a far cry from the situation in 1997, when 15% was the going rate and each card came with hefty fees. Chevy Chase/First USA, the low-cost leader at 9.9%, even throws in a six-month teaser rate of 3.9%.

In some cases, issuers offer several different cards depending on whether your goal is low interest rates and fees, or lots of rewards. American Express Co. alone offers more than half a dozen, including a version mailed out this spring offering cash rebates of up to 2% on all purchases and a clone of the Optima that gives free miles on Delta Air Lines. Citibank responded last month with a card tied to American Airlines.

What's more, the number of business-to-business services that accept credit-card payments has expanded to include thousands of outsourcers and wholesalers, and that helps rack up extra discounts and airline miles.

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